South Dakota US Senator Mike Rounds said the Republican effort to make federal tax cuts from 2017 permanent will help the average South Dakota family.
Rounds said the effort will save the average South Dakota family $2,400 annually.
“We’re not making additional tax cuts. We’re just simply continuing existing tax rates that are already in effect. That’s the part that people seem to forget about," Rounds said. "If we don’t pass this bill, then those tax rates will go up. When the tax rates go up, that hurts working men and women.”
They also are looking at ways to eliminate programs and cut services.
A recent analysis by the Congressional Budget Office shows costs for lower income households will outpace any tax cut they receive—whether by reductions to health insurance subsidies, or Medicaid and SNAP benefits.
Rounds said the reconciliation package has a long way to go in the Senate.
Republicans have self-imposed a deadline of July 4 to pass the provisions.
